Focused Investors LLC Reduces Position in United Technologies Corporation (NYSE:UTX)
Focused Investors LLC decreased its position in shares of United Technologies Corporation (NYSE:UTX) by 19.2% during the second quarter, Holdings Channel reports. The fund owned 841,800 shares of the conglomerate’s stock after selling 199,900 shares during the period. United Technologies Corporation comprises about 4.4% of Focused Investors LLC’s holdings, making the stock its 12th largest position. Focused Investors LLC’s holdings in United Technologies Corporation were worth $102,792,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in UTX. Swiss National Bank raised its stake in shares of United Technologies Corporation by 25.2% in the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after buying an additional 557,300 shares during the last quarter. American Century Companies Inc. raised its stake in United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock valued at $384,887,000 after buying an additional 468,515 shares during the last quarter. Karp Capital Management Corp acquired a new stake in United Technologies Corporation during the first quarter valued at approximately $40,211,000. UBS Asset Management Americas Inc. raised its stake in United Technologies Corporation by 11.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock valued at $320,781,000 after buying an additional 301,484 shares during the last quarter. Finally, Tesco Pension Investment Ltd raised its stake in United Technologies Corporation by 27.6% in the second quarter. Tesco Pension Investment Ltd now owns 1,146,382 shares of the conglomerate’s stock valued at $139,985,000 after buying an additional 248,221 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.
United Technologies Corporation (UTX) remained flat at $117.20 on Thursday. 1,421,826 shares of the company traded hands. The stock has a 50 day moving average price of $121.48 and a 200-day moving average price of $116.87. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock has a market capitalization of $93.62 billion, a P/E ratio of 17.85 and a beta of 1.06.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The company had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. United Technologies Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, equities research analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. United Technologies Corporation’s dividend payout ratio (DPR) is 40.24%.
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Several equities research analysts recently commented on UTX shares. Royal Bank Of Canada boosted their price objective on shares of United Technologies Corporation from $118.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Credit Suisse Group reissued a “buy” rating and set a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Morgan Stanley boosted their price objective on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Finally, BidaskClub lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $123.54.
About United Technologies Corporation
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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